Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1887-06-09
The Worlds Money.

ios'on VI WIG WOFiU at 20, l1Z,VU,UUV
More than half the human family have
no other money! The annual silver
production of the world is SIT, 500 900,
of which $96 5000, 900 is converted into
coin, the balance is used in the arts.
The silver product of this country is
abont $4,000. 900 annually, of which
So ,OOO, 900 are converted into articles of
utility and ornament.
1t is estimated that about oue-twen-
tieth of the silver coin is annually lost
by abrasion, wear and casualties; all
amount in excess of the annual addition
by coinage. The world is not likely,
| t. erefore to be deluged with silver.
| The United States produces $50, 900, 900
of which about one-half we convert in
| to coin.
What grand harvest our National
bankers would have if the coinage of
silver was suspended and they were
| allowed to substitute their debts to fill
the vacuum! 1t is said that the Sub
Treasurer at New York is an enthus-
iastic advocate of the scheme to trans
fer the silver bullion market from Lon
don to New York by dealing in it as
other commodities, and making bullion
certificates the basis of financial specu-
lation. OF course by the suspension of
silver coinage the speedy demonetiZa-
| ton of the metal would soon follow.
| We denounce the conspiracy of capital
lists to drive silver money from ciTcula-
| ton as q high crime. Ours is the prin-
cipal silver-producing country of the
world, and its chief value consists in its
being converted into coin, yet bankers
and money-lenders are intent upon de-
stroying this great source of wealth and
| instrument of exchange.
To secure the corporation of those
engaged in agriculture these conspira-
tors refer to the fact that the price of
wheat is regulated by the bullion value
of silver. That as silver declines in
price, wheat declines in CORES ponding
ratio. If this is true, what Will be the
effect upon the wheat market if silver
is demonetized and this metal is left to
the bulls and bears to deal in as in
other commodities? OF course its price
will be merely nominal, gold being the
only standard.
Why are our granaries filled with
wheat, commanding price less than
the cost of production? Why have we
no foreign market for our cereals?
England, once large buyer, gets her
supply now from India. Silver is the
only money in India. England buys
up our silver bullion at 20 per cent. in
gold, coins it into the money of India
and pays it out at 100 per cent. for
wheat. This is the reason why Amer
lean wheat rises or falls with the bull
lion price of silver. If silver was de-
monetized, its coinage suspended and
bullion certificates left to the tender
mercy of bankers, with Ex-Secretary
Manning as their chief, the price of
American wheat would be still less in
a foreign market unless silver is de-
monetized in India, which is not likely
to occur.
On the other hand, if our govern
ment would establish the unlimited
coinage of silver England would have
to pay par value for our bullion, and
pay par value for grain in India, which
would enable our farmers to complete
with India in the wheat markets of
Europe. 1t is then clearly to the in
terests of American farmers that silver
should be appreciated in price relative
ly to gold, which can only be done by
its unlimited coinage.
We admire the cunning and shrewd-
ness of England's financiering. She
makes gold the only standard, renders
silver a cheap commodity, converts it
into the money of India and then gath
ers up the breadstuffs in a deprecated
coin at par. If the bullion gamblers of
New York City, and still further, de-
preciate the bullion value of silver, de-
stroy its use as money, they can close
the markets of Europe against our cot
ton and breadstuffs, gather their sup
plies from their own dependencies, at q
reduced cost, and pay for them In a
deprecated coin. Will the American
people be guilty of the supreme folly of
furthering the designs of the money
lords of England and of our own coun-
try who are confedsrating together to
rob the producing classes of all coun-
tries?
The only way to defeat the robbers is
for the United States to maintain its BIZ
metallic standard, and coin without
limitation or restriction both gold and
silver.
If the three billions of silver coin
were stricken from the worlds clrculat-
ing medium. what havoc and desolation
would follow! All property, real and
personal, would depreciate in price
more than one-halt, the limbs of labor
would be paralyed, restitution and
starvation would be the portion of the
take all men of enterprise. The hold
ers of gold and bankers would gorge
themselves with the wealth of the
world. To the extent that our Ameri-
can financiers are allowed to carry out
their plan these disasters will be in
voked. A great banker in New York
says he sees no reason why silver should
not be bought and sold like grain and
oil. We see thousand reasons why
silver should not be made a mere arti-
Gle of merchandise, and we are assured
that it can not be accomplished in any
other way but By suspending it's com
age and forcing its decentralization.
One of the thusand reasons is, we be-
lieve, sufficient to array the people
against the villainous design. With
all the silver and gold which is avail
able for coinage, the worlds supply of
money is inadequate to the needs of our
rapidly increasing trade and commerce.
If we have too much OF either coin to
suit the convenience of the people in
their small daily transactions, let the
Government issue certificates upon the
deposit of coin, which, with Treasury
notes, will constitute an ample, safe
and reliable circulating medium, with
out the aid of Understanding bankers
debts.
National bankers wish to supply their
paper based upon the credit of the Gov
eminent in place of silver and silver
certificates. To make up any deficiency
in the circulation by reason of a dearth
of coin and coin certificates we demand
that the Government shall issue its
own notes, based upon its own credit.
without the Intervention of banks.
Secretary Chase, after deploring his